Segment Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has two operating segments that are managed in the following reportable segments:

•American Public Education Segment, or APEI Segment; and

•Hondros College of Nursing Segment, or HCON Segment.

In accordance with FASB ASC Topic 280, Segment Reporting, the chief operating decision-maker has been identified as the Company's Chief Executive Officer. The Company's Chief Executive Officer reviews operating results to make decisions about allocating resources and assessing performance for the APEI Segment and HCON Segment.

A summary of financial information by reportable segment is as follows (unaudited):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2016			2015		2016			2015
	(In thousands)
Revenue:
American Public Education Segment	$	67,065		$	69,233	$	212,859		$	219,263
Hondros College of Nursing Segment	6,738			7,058		21,655			22,735
Total Revenue	$	73,803		$	76,291	$	234,514		$	241,998
Depreciation and amortization:
American Public Education Segment	$	4,550		$	4,558	$	13,619		$	13,297
Hondros College of Nursing Segment	360			333		1,005			881
Total Depreciation and amortization	$	4,910		$	4,891	$	14,624		$	14,178
Income (loss) from continuing operations before interest income and income taxes:
American Public Education Segment	$	5,659		$	10,049	$	31,211		$	34,179
Hondros College of Nursing Segment	(5,267		)	463		(4,189		)	2,380
Total income (loss) from continuing operations before interest income and income taxes	$	392		$	10,512	$	27,022		$	36,559
Interest income, net:
American Public Education Segment	$	37		$	37	$	111		$	78
Hondros College of Nursing Segment	—			—		—			—
Total Interest income, net	$	37		$	37	$	111		$	78
Income Tax expense (benefit):
American Public Education Segment	$	2,100		$	3,634	$	12,111		$	13,071
Hondros College of Nursing Segment	(2,015		)	162		(1,587		)	923
Total Income Tax expense (benefit)	$	85		$	3,796	$	10,524		$	13,994
Capital expenditures:
American Public Education Segment	$	2,694		$	6,314	$	8,992		$	18,448
Hondros College of Nursing Segment	72			487		678			1,116
Total Capital expenditures	$	2,766		$	6,801	$	9,670		$	19,564

A summary of the Company’s consolidated assets by reportable segment is as follows (current period unaudited):

	As of September 30, 2016		As of December 31, 2015
	(Unaudited)
	(In thousands)
Assets:
American Public Education Segment	$	264,230	$	250,118
Hondros College of Nursing Segment	49,094		53,778
Total Assets	$	313,324	$	303,896